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247-249 S Weber Rd 8.42 Acres of Commercial Land in Bolingbrook, IL 60490

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INVESTMENT HIGHLIGHTS

  • 32,200 cars per day - Weber Road
  • 32,400 cars per day - Boughton Road
  • 9,988 cars per day - Lily Cache Lane
  • Divisible property

EXECUTIVE SUMMARY

Country Aire is an ±8.42 acre retail site located near the intersection of Weber Road and Lily Cache Lane in Bolingbrook, Illinois. The site is part of the larger Country Aire project that includes national retailers such as Lowe’s, Aldi, Starbucks, Olive Garden, Red Lobster, KFC and Wendy’s. This well located land site benefits from these existing entitlements and improvements:
• The ±8.42 acre site was mass graded and raised several inches to prepare the pad for future development.
• Retention is in-place immediately to the west of the parcel to accommodate future build out. That retention pond is owned by the Village of Bolingbrook who will provide perpetual maintenance at no cost to Country Aire tenants.
This property is going to auction on November 17-18. Starting bid $500k. Reach out for further details.
• All utilities are on site or to the parcel boundary including sanitary sewer, water, storm sewer, electric, phone, gas and cable.
• The property is a freestanding zoned and subdivided lot zoned B-2 Community Retail District allowing for a wide-range of Permitted and Special Uses, with potential further benefits granted via the Planned Commercial Development ordinance.
• The site benefits from a Preliminary Development Plan and, in most cases, can be permitted for construction by staff action alone. The property is governed by an easement agreement that is further detailed on page 4 of this Offering Memorandum.

PROPERTY FACTS Under Contract

Sale Type Investment or Owner User
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Retail
  • Mixed Use
Total Lot Size 8.42 AC
Zoning B-2, Community Retail

1 LOT AVAILABLE

Lot

Lot Size 8.42 AC

NWQ Weber Rd. and Lily Cache Lane- the property is divisible

DESCRIPTION

This parcel of land is zoned and fully improved and ready for development with all utilities, roads and water retention built and in place adjacent to the site. The Property is part of Country Aire Market, a ±33 acre retail development which, in itself, is part of the overall ±110 acre Country Aire project. The remainder of the development is occupied by Meijer, The Home Depot, Lowe’s, Olive Garden, Red Lobster, KFC and Wendy’s and shops anchored by Starbucks and FedEx Office. The trade area in total comprises 1,000,000 SF of retail including Jewel-Osco, Target, Kohl’s, Hobby Lobby, Sports Authority, Ross, Marshall’s and many more restaurants, small shops and banks. Wal-Mart owns a 25-acre parcel and intends on building a Super Center directly to the east. Bolingbrook is a prominent and substantially built-out suburb of Chicago with a population of 74,900 in 23,800 homes located ±30 miles southwest of the Chicago Central Business District. Bolingbrook encompasses 27 square miles and also enjoys a close proximity to the roof-tops and spending power of residents in nearby Naperville, Romeoville, Plainfield and Woodridge. Significant demographic, mapping and economic data is provided in the Market Information tab to accurately compare and contrast to neighboring trade areas. Retail sales are Bolingbrook are $1.5 billion annually which generate $31 million in sales tax revenue each year for the general fund of the municipality. There are 33,400 jobs within the Village and major employers in the Bolingbrook/Joliet area include RR Donnelley, Bolingbrook Promenade, Provena St. Joseph Medical Center, Silver Cross Hospital, Hollywood Casino, and Caterpillar. Bolingbrook is the home to 33 million sf of industrial and distribution space and 6.7 million sf of retail base and has an aggregate $5.1 billion of market value assessment, helping to fund the schools and yet keep real estate taxes low. Bolingbrook has been ranked in Money Magazine’s “Top 100 Places to Live” for several years. An Easement Agreement with Lowe’s prohibits the following uses on the Property. Please note that this is a summary of major terms and not all-inclusive. The Easement Agreement will be made available in its entirety to qualified investors. • A hardware store containing more than 5,000 square feet of floor area. • An appliance store and/or lighting store and/or home electronics store that sells appliances and contains more than 5,000 square feet of floor area; provided, the foregoing shall not prohibit an Office Max, Staples, Office Depot, Best Buy, Circuit City or a successor store to any of the foregoing which carries substantially the same type and variety of merchandise as offered and sold at the aforementioned stores as of the date of the agreement (7/22/04), provided such stores do not have floor area devoted to selling the merchandise described in paragraphs a) through d) in excess of the space limitations described in such subparagraphs. • A nursery and/or lawn and garden store containing more than 3,000 square feet of floor area (including any outdoor areas). • A paint and/or home décor center containing more than 4,000 square feet of usable floor area; provided a retail store open to the public selling primarily home furniture is permitted as described below. • A retail and/or warehouse home improvement center, lumber yard, building materials supply center, home improvement service center and/or other stores or centers similar to those operated by or as Lowe’s, Home Depot, Home Depot Expo, Villagers Hardware, 84 Lumber, Hughes Lumber, McCoys, Sears Hardware, and Great Indoors; provided that furniture stores or centers such as Ethan Allen, Homemakers, Harlem Furniture, Pier 1 Imports, Plunkett Furniture and Wickes Furniture are permitted, provided such furniture stores do not have floor area devoted to selling the merchandise described in paragraphs a) through d) of this Section 3.3 in excess of the space limitations described in such paragraphs. These restrictions or exclusive rights shall also apply to prohibit a larger business having space in its store devoted to selling the merchandise described in paragraphs a) through d) when such space exceeds the limitations of paragraphs a) through d). Notwithstanding anything in the foregoing to the contrary, in the event that Lowe’s or a similar replacement tenant has not operated in any portion of the Lowe’s Parcel for a period in excess of two years, the above exclusives shall be of no further force and/or effect until such time as Lowe’s or its successors, assigns or tenants shall re-open a store on any portion of the Lowe’s Parcel for any one of the foregoing uses, which reopening shall not prohibit uses in violation of such exclusives if such uses were begun during such time as the above exclusive use restrictions were of no force and/or effect.

  • Listing ID: 23049105

  • Date on Market: 2/14/2020

  • Last Updated:

  • Address: 247-249 S Weber Rd, Bolingbrook, IL 60490

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